We sold our primary home in 2020. We used it as a rental for a few months in 2019 and claimed the income and depreciation on our 2019 return. Now, I'm working on the home sale section in TT Deluxe and have a question...
I went through the EasyGuide to calculate the adjusted cost basis. It asked me for the amount of depreciation taken, so I entered the amount there. Then, later it asks the total amount of depreciation deducted after 1997. Do I enter the same amount there? If so, is TT going to calculate in my depreciation twice?
Thanks.
